GBP/USD Climbing Accelerates, Overcoming 1.62

On Wednesday Pound/Dollar increased with 100 pips. The Cable appreciated from 1.6080 to 1.6183 yesterday, in line with the positive Interbank sentiment at almost +33%, closing the day at 1.6160. Today the British Pound strengthened further, ascending up to 1.6207.

On the 1 hour chart new upward channel has formed, while on the 3 hour chart smaller angle upward channel has emerged. First resistance is today's peak at 1.6207. Break above it should extend the bullish movement further towards 1.6330. The nearest support level is yesterday's bottom at 1.6080. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5956.

Today are UK Nationwide house price index, Gfk consumer and Nationwide confidence, at 6 and 23:01 GMT respectively.

Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 1.6207 1.6330 1.6464

Technical support levels: 1.6080 1.5956 1.5820

Already made +39 pips profit on GBP/USD today from the following sent to clients only signal:

5:17 GMT+1 Buy GBP/USD at 1.6168 SL 1.6142 TP 1.6228, exit sent at 8:36 GMT+1.

Today so far +113, yesterday +107, as shown in details at http://www.zifx.com/performance-past.php.